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Personal Property Addendum
"I need a Personal Property Addendum for transferring ownership of manufacturing equipment (valued at NZD 250,000) from our Auckland facility to a leasing company, with the transfer scheduled for March 2025 and including ongoing maintenance obligations."
1. Parties: Identification of all parties involved in the agreement, including their legal names and contact details
2. Background: Context of the agreement and reference to the main agreement this addendum supplements
3. Definitions: Key terms used throughout the addendum, ensuring clarity and consistent interpretation
4. Property Description: Detailed description of the personal property covered by the addendum
5. Ownership and Title: Clear statement of property ownership and any existing encumbrances
6. Transfer of Rights: Terms and conditions for the transfer of property rights
7. Consideration: Details of any payment or other consideration for the property
8. Maintenance and Care: Responsibilities for maintaining and protecting the property
9. Risk and Insurance: Allocation of risk and insurance requirements
10. Warranties: Warranties and representations regarding the property's condition and ownership
11. Term and Termination: Duration of the addendum and conditions for termination
12. General Provisions: Standard contractual provisions including governing law and dispute resolution
1. Security Interest: Required when the property is subject to security interests under the PPSA
2. Third Party Rights: Needed when third parties have existing rights or interests in the property
3. Intellectual Property: Required when the personal property includes or relates to intellectual property
4. Export/Import Requirements: Necessary for international movement of personal property
5. Tax Implications: Required when there are specific tax considerations for the property transfer
6. Regulatory Compliance: Needed when the property is subject to specific regulatory requirements
7. Usage Restrictions: Required when there are specific limitations on property use
8. Return Conditions: Needed when the property must be returned under certain conditions
1. Schedule 1 - Property Details: Comprehensive description of all personal property items including specifications, conditions, and identifying features
2. Schedule 2 - Pricing and Payment Terms: Detailed breakdown of costs, payment schedules, and financial terms
3. Schedule 3 - Maintenance Requirements: Specific maintenance schedules and requirements for the property
4. Schedule 4 - Insurance Requirements: Detailed insurance specifications and coverage requirements
5. Appendix A - Photographs and Documentation: Visual documentation and supporting materials for property identification
6. Appendix B - Existing Encumbrances: Details of any existing liens, security interests, or other encumbrances
7. Appendix C - Compliance Certificates: Copies of relevant compliance certificates or regulatory approvals
Authors
Agreement
Approved Purpose
Business Day
Commencement Date
Condition Report
Consideration
Effective Date
Encumbrance
Event of Default
Existing Agreement
Fair Wear and Tear
Force Majeure Event
GST
Identification Marks
Insurance Requirements
Intellectual Property Rights
Location
Maintenance Requirements
Main Agreement
Material Adverse Change
Notice
Operating Instructions
Parties
Payment Date
Permitted Use
Personal Property
PPSA
Property Schedule
Purchase Price
Related Documents
Security Interest
Secured Party
Serial-Numbered Goods
Specifications
Term
Territory
Title
Transfer Date
Warranties
Title and Ownership
Transfer of Rights
Security Interests
Payment Terms
Risk and Insurance
Maintenance and Care
Warranties and Representations
Inspection Rights
Usage Restrictions
Registration Requirements
Default and Remedies
Indemnification
Force Majeure
Assignment and Transfer
Confidentiality
Regulatory Compliance
Notices
Dispute Resolution
Governing Law
Amendments
Severability
Entire Agreement
Third Party Rights
GST and Taxation
Condition and Maintenance
Return Obligations
Access Rights
Export/Import Requirements
Termination Rights
Financial Services
Retail
Manufacturing
Equipment Leasing
Agriculture
Construction
Technology
Transportation
Logistics
Professional Services
Real Estate
Asset Management
Legal
Finance
Operations
Risk Management
Compliance
Asset Management
Procurement
Commercial
Credit
Property Management
Contract Administration
Legal Counsel
Contract Manager
Asset Manager
Property Manager
Finance Manager
Commercial Director
Risk Manager
Compliance Officer
Operations Manager
Procurement Manager
Business Development Manager
Credit Manager
Security Trustee
Portfolio Manager
Lease Administrator
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